OpenAI is in early-stage talks with the Trump administration to grant the U.S. government a 5% equity stake in the company, a move that would give Washington a $42.6 billion position ahead of the AI firm’s highly anticipated initial public offering. The proposal, first reported by the Financial Times, is being championed by CEO Sam Altman as a way to tie the economic gains from artificial intelligence to public ownership and ease political scrutiny before OpenAI’s market debut, which aims to rival Elon Musk’s SpaceX.
Altman has discussed the plan directly with President Trump, Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent. The concept goes beyond OpenAI: the company has also floated a broader framework in which leading U.S. AI developers—including Anthropic, Alphabet’s Google, Meta, and others—would each contribute 5% of their equity into a public vehicle. That fund could operate like the Alaska Permanent Fund, distributing benefits derived from AI wealth to citizens and state government.
The stake is valued based on OpenAI’s last known post-money valuation of $852 billion from a March funding round. The exact terms, dilution effects, and governance structure remain unresolved. It is unclear whether the equity would be held directly by the federal government, placed in a sovereign wealth-style fund, or conditioned on a future corporate restructuring or public listing. Congressional approval may also be required.
The proposal comes as Trump’s second administration has already expanded federal equity stakes, converting grants into shares in companies like Intel, MP Materials, and L3Harris. OpenAI’s pitch reflects a broader shift in Washington’s AI policy from safety and export controls to public ownership and wealth distribution. Proponents argue a government stake would let taxpayers share in upside from technologies enabled by public research and infrastructure. Critics warn it could create conflicts between regulation and financial interest, potentially softening oversight on safety or antitrust.
Senator Bernie Sanders has gone further, advocating for public ownership of up to 50% of major AI companies through a sovereign wealth fund. Meanwhile, OpenAI’s nonprofit arm has argued that society needs systems giving people “durable stakes” in AI-driven growth before critical economic decisions are finalized.
